SOURCE: Cambridge Resources

March 05, 2007 10:00 ET

Cambridge Resources Nominates Former Gulf Oil Executive to the Board of Directors

NEW YORK, NY--(Marketwire - March 5, 2007) - Cambridge Resources Corporation (PINKSHEETS: CBRP) (FRANKFURT: M3F) announced today the nomination of Joel Friedman and Mark Cussen to the board of directors and as officers of the company.

Joel Friedman is nominated to the board of directors of Cambridge Resources and as Chief Operating Officer. Mr. Friedman has a master's degree in petroleum engineering from the Institute de Engineering in France. He has earned a long list of certifications, including USGS Blowout Prevention, Registered Environmental Manager, Certified Environmental Assessor, various construction certifications and an explosives license. He was the former head production petroleum engineer for Gulf Oil, where he took over 40 oil and natural gas leases that were going to be plugged and converted them into highly profitable projects. He has nearly 35 years of experience in the oil industry, encompassing both on and offshore production and hands-on field work in operations and drilling. He has worked and consulted in virtually all oil producing states in the United States of America, as well as several foreign countries. He has taught several courses at various Gulf Oil research centers, covering water flooding, and enhanced oil recovery, drilling and formation evaluation. Mr. Friedman is also a member of The Societies of Petroleum and Manufacturing Engineers, The American Society of Safety Engineers, and several other assorted oil and gas organizations, where he has served on many legislative committees. Mr. Friedman also speaks the languages of English, Spanish, French, Creek and Cherokee Indian and Japanese.

Mark Cussen is nominated to the board of directors of Cambridge Resources and as Vice-President. Mr. Cussen graduated from the University of Kansas in 1994 with a Bachelor's degree in English. After servicing mutual fund customers for a year at DST Systems, he became a stockbroker in 1995. He gathered and managed assets with three different companies before earning the Certified Financial Planner designation in 2001. Mr. Cussen then added tax planning and preparation to his services, along with comprehensive financial planning. He was also a residential loan officer for two years before joining American Pride Energy, Inc. in July of 2004.

"Mr. Friedman and Mr. Cussen are a great addition to the Cambridge Resources Team," said Mr. Felitsky President and CEO of Cambridge Resources Corporation. "The experience of our team will greatly benefit our company, especially with the acquisition of the U.S.-based properties and with potential international properties," further added Mr. Felitsky.

About Cambridge Resources

Cambridge Resources Corp. is a junior oil and gas producer located in Kansas City and its properties have an estimated 5,000,000 barrels in recoverable reserves and once the required financing is concluded, the company expects production to grow to 182,500 barrels of oil per year and 219,000 MCF of gas per year. The company projects to generate approximately USD $40 million in Revenue and USD $32 million in Profit within the next 5 years and further exceed these projections with the acquisition of further proven reserves in North-America and around the world.

Important Information About Forward-Looking Statements

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

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